Brazil Fines Solvay Unit, Others $76M For Peroxide Cartel

Law360, New York (May 10, 2012, 6:25 PM EDT) -- Brazilian antitrust authorities on Wednesday hit a Solvay SA unit and several individuals with fines of 149 million reais ($76.2 million) for allegedly fixing prices on hydrogen peroxide in collusion with Degussa Group, which avoided punishment after cooperating with the government's investigation.

Brazil's Council for Economic Defense, or CADE, said they had leveled the fines against Solvay's Peroxidos do Brasil Ltda. after an investigation into the alleged cartel, which included the country's two largest manufacturers of the bleaching agent and lasted from 1995 to 2004....